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Nov 21, 2023 · Legal Meaning of Equity: Bridging Justice and Fairness. Equity, a vital concept in the legal world, stands as a testament to the evolution and adaptability of law. Rooted in principles of fairness, equity complements and sometimes corrects the rigidity of common law.
In the field of jurisprudence, equity is the particular body of law, developed in the English Court of Chancery, with the general purpose of providing legal remedies for cases wherein the common law is inflexible and cannot fairly resolve the disputed legal matter.
Jul 1, 2024 · equity, in Anglo- American law, the custom of courts outside the common law or coded law. Equity provided remedies in situations in which precedent or statutory law might not apply or be equitable.
Sep 2, 2016 · Equity can be broadly described as being just or fair, whereas the legal meaning of the term equity refers to the rules determined to mitigate the severity of the common law rules and those issues that are not be covered under the common law jurisdiction.
In law, the term "equity" refers to a particular set of remedies and associated procedures involved with civil law. These equitable doctrines and procedures are distinguished from "legal" ones. While legal remedies typically involve monetary damages, equitable relief typically refers to injunctions, specific performance, or vacatur.
Equity is both a different system of law which recognizes rights and obligations that the common law does not, and a system which seeks to address the inherent gaps which can exist in following any set of rules. Equity plays a large, but largely hidden, role in all our lives.
Jul 3, 2023 · Equity law refers to a branch of law that focuses on fairness, justice, and providing remedies when the common law falls short. It is based on principles of fairness and flexibility, aiming to address situations that cannot be adequately resolved through strict legal rules.
